Question

A Sum lent on simple Interest becomes rs.2520 in 2 yrs and rs.27001 in 5 yrs find the sum and rate of Interest​

Answer 1

Answer:

your question is wrong rs 2700 in 5 years is correct

Step-by-step explanation:

answer is

Difference in interest is: 2700−2520=1802700−2520=180

Assuming that it is a Simple Interest:

3 years interest = 180

which implies, 1 year interest = 180/3=60180/3=60 which further implies, for interest for 2 years = 60∗2=12060∗2=120

So the Principle Amount is = 2520−12=24002520−12=2400

Now, let rate of interest be x:

we know, p + (p * t * r / 100) = total amount

which implies 2400+(2400∗5∗x/100)=27002400+(2400∗5∗x/100)=2700

=>2400+120x=2700=>2400+120x=2700

=>120x=300=>120x=300

=>x=2.5=>x=2.5

So the Rate of Interest is 2.5%